Personal Accident and Health Insurance in the Philippines, Key Trends and Opportunities to 2017


#178967

217pages

Timetric

$ 1950

In Stock


Synopsis

The report provides in depth market analysis, information and insights into the Philippine personal accident and health insurance segment, including:

  • The Philippine personal accident and health insurance segment’s growth prospects by insurance categories
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in the Philippine personal accident and health insurance segment
  • Detailed competitive landscape of the personal accident and health insurance segment in the Philippines
  • Detailed regulatory framework of the Philippine insurance industry
  • A description of the personal accident and health reinsurance segment in the Philippines
  • Porter's Five Forces Analysis of the personal accident and health insurance segment
  • Benchmarking section on the Philippine personal accident and health insurance segment in comparison to other countries in the Southeast Asian region

Executive summary

The written premium of the Philippines personal accident and health insurance segment increased from PHP3.7 billion (US$83.8 million) in 2008 to PHP8.5 billion (US$202.4 million) in 2012, after recording a compound annual growth rate (CAGR) of 23.2% during the review period (2008–2012). This growth was fuelled by the country’s rising healthcare expenditure, the growing number of private hospitals and high frequency of crimes and natural disasters. The low standard of the country’s public healthcare system is encouraging a substantial proportion of the population to choose private healthcare facilities, although the high cost of such facilities means access is restricted to the country’s middle and upper classes. Over the forecast period, increasing healthcare expenditure, the growth of private healthcare and rising awareness of natural disasters and crimes in the country are all expected to drive growth in the Philippines personal accident and health insurance segment.

Scope

  • This report provides a comprehensive analysis of the personal accident and health insurance segment in the Philippines:
  • It provides historical values for the Philippine personal accident and health insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
  • It offers a detailed analysis of the key sub-segments in the Philippine personal accident and health insurance segment, along with market forecasts until 2017
  • It covers an exhaustive list of parameters including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
  • It analyses the various distribution channels for personal accident and health insurance products in the Philippines
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in the Philippines for the personal accident and health insurance segment
  • It provides a detailed analysis of the reinsurance segment in the Philippines and its growth prospects
  • It profiles the top personal accident and health insurance companies in the Philippines and outlines the key regulations affecting them

Reasons to buy

  • Make strategic business decisions using in depth historic and forecast market data related to the Philippine personal accident and health insurance segment and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Philippine personal accident and health insurance segment
  • Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Philippine insurance segment and its impact on companies and the market's future

Key highlights

  • The written premium of the Philippines personal accident and health insurance segment increased from PHP3.7 billion (US$83.8 million) in 2008 to PHP8.5 billion (US$202.4 million) in 2012, after recording a compound annual growth rate (CAGR) of 23.2% during the review period (2008–2012)
  • The Philippine personal accident and health segment is considered one of the fastest-growing insurance segments in Asia, making the country a preferred destination for investment
  • The low penetration rate and underdevelopment of the industry are expected to support growth
  • In 2012, the agencies channel accounted for 49.6% of the written premium generated in the segment, the highest share of all the distribution channels
  • The insurance industry of the Philippines is supervised and regulated by the Insurance Commissioner of the Philippines, according to the rules and regulations of the Insurance Code (enacted in 1974)
  • The segment is dominated by PhilHealth